Randolph to sell 22 acres of residential land

Thursday

The Town of Randolph has issued a Request for Proposals to sell 22.46 acres of land off Oak Street.

Long known as “Stackpole Avenue,” the land was in tax title for decades before the Town worked to clear up the matter and create a tax-paying entity.

The responses are due back to the Town by July 27. The minimum bid price is $1 million.

“I want to commend our Treasurer / Collector’s Office for straightening out this convoluted tax title matter and for helping return this property to the tax rolls,” said Town Manager Dave Murphy. “The sale of this property will help offset some of our capital costs for the new fire station, community center, and renovations to our police station and library. The ongoing tax benefits will be a help to our entire tax base in Town. We are being creative in our approach to the continued improvement of the services and programs in Town.”

The property is zoned for residential, single-family housing. There are no plans or intentions to build anything other than single-family homes on the property, Murphy stated.

Alhough the minimum bid is $1 million, Murphy said he thought the current strength of the residential market might drive the bidding up higher than the minimum.

“The new housing stock being built in Town is of great quality and helping elevate our average home value," Murphy said. "That has an exponential benefit to attracting new businesses to Town and improving our overall local economy.”

To attaining a copy of the Request for Proposal, contact Murphy at dmurphy@randolph-ma.gov.